Germany Companies set to invest in Uganda’s Energy, Transport, Health Sectors

Siemens, specifically, is injecting Euros 3 billion in select African countries by 2020 and Uganda is set to benefit.

President Museveni last week witnessed the signing of a Memorundum of Understanding {MOU} between Uganda government and two German firms; Siemens and MMEC Mannessmann, in Durban, South Africa.

Siemens, specifically, is injecting Euros 3 billion in select African countries by 2020 and Uganda is set to benefit.

The areas of cooperation are in energy, transport and healthcare. Greater focus will be on increased power generation and connecting more Ugandans onto the grid.

The agreement between Uganda, Siemens and MMEC Mannesmann GmbH is about cooperation in the fields of power supply, industry, transportation and healthcare.

Greater focus will be on increasing the country’s electricity generating capacities and connecting more Ugandans to the power grid.

According to a Government of Uganda statement released,Uganda’s Finance Minister Matia Kasaija signed on behalf of Uganda while Joe Kaeser, the Chief Executive Officer of Siemens Group and Mesut Sahim, the Chief Executive Officer of MMEC, signed on behalf of their companies.

Germany’s Federal Minister for Economics and Energy, Brigitte Zypries and Prof Klaus Schwab, the Chairman of the World Economic Forum, also witnessed the signing.

Siemens is a German conglomerate and the largest manufacturing and Electronics Company in Europe.

The company also has interests in industry, energy, healthcare and infrastructure and employs over 350,000 people across its global operations. MMEC on the other hand focuses on engineering with interests in oil and gas, chemicals, metals and mining.

Kaeser announced that his company would inject more than Euros 3 billion in Africa by 2020 of which Uganda would be a key beneficiary of this investment.

President Museveni, who thanked the Germany government and companies for investing in Africa, said the continent and the developed countries could support each other for their citizens’ prosperity.

“Africa, Europe, USA, India, Japan, China and South East Asia can support the prosperity of one another through production and the sale of goods and services,” he said. “I am pleased to know that Chancellor Angela Merkel has placed emphasis on Germany-African relationship. It should be two ways and balanced. That way, we shall all develop and prosper.”

He said Uganda, could benefit from Germany’s advanced technical skills and financial muscle, while Uganda and the region in return offered market, resources and manpower.


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  1. rkrobert04

    Investments

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